From
Bob O'Neal
Title
Resolution authorizing a 50%/7-year partial tax abatement on the added ad valorem real estate improvements and added business personal property for RSR Group, Inc.
Presenter
Bob O'Neal, Economic Development Director
Recommended Action
Approve
Analysis
RSR Group, Inc. is a shooting sports distributor that has its beginnings in a two-car garage in Rochester, New York. The company was founded in 1977 and quickly expanded to five locations across the United States, including a Grand Prairie sales and distribution center that opened in 1983. In 2005, RSR Group centralized its five warehouse operations and moved into its current facility on Avenue J East. Through the distribution center in Grand Prairie, RSR services 14,000 retail dealers, ranging from small, local retail shops to large chain stores. Providing outstanding customer service is their core strength, and RSR is proud to be an employee-owned company, where 100% of stock is owned by employees.
RSR has achieved its recent growth by expanding product offerings and by pursuing new customer segments through lead generation initiatives as well as investments in technology. Two of the rapidly growing segments include internet order fulfillment and law enforcement/military sales. As a result of the increased revenue, RSR has invested in additional staffing at the facility, and anticipates continued growth based on their successful focus on service and technology.
As an incentive to expand its Texas operations in Grand Prairie, staff is recommending a 50% / 7 year partial tax abatement on the combined added ad valorem real estate improvements and added business personal property.
This tax abatement was presented to the Finance and Government Committee on August 7, 2012 and was recommended for approval by the City Council.
Financial Consideration
Projected Added Investment - Real estate improvements: $4,000,000
Projected Added Investment - Business personal property:...
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